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(Update includes UAW's rejection of proposed changes to contract)
DETROIT (TheStreet) -- For Ford(F), getting to a $997 million third quarter profit involved beating expectations on two fronts.
Revenue came in $31 billion, which was 9% higher than analysts had estimated. Meanwhile, the pace of cost reductions beat Ford's own projections. The automaker reduced automotive costs by $1 billion in the quarter, bringing the nine-month total to $4.9 billion, ahead of the full-year 2009 target of $4 billion.
"What you're seeing here today is a tremendous proof point, CEO Alan Mulally said on the conference call. ...
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